Pensions and Other Post-retirement Benefit Plans

9 Months Ended

Mar. 29, 2013

Compensation And Retirement Disclosure [Abstract]

Pensions and Other Post-retirement Benefit Plans

10. Pensions and Other Post-retirement Benefit Plans

The Company’s principal pension and other post-retirement benefit plans are in Japan. All pension and other post-retirement benefit plans outside of the Company’s Japanese plans were immaterial to the Company’s condensed consolidated financial statements. The expected long-term rate of return on the Japanese plan assets is 3.5%.

The following table presents the unfunded status of the benefit obligations and Japanese plan assets as of March 29, 2013 and June 29, 2012 (in millions):


	Mar. 29, 2013			Jun. 29, 2012
Benefit obligation	$	253		$	286
Fair value of plan assets		(160	)		(167	)

Unfunded status	$	93		$	119

The following table presents the unfunded amounts as recognized on the Company’s condensed consolidated balance sheets as of March 29, 2013 and June 29, 2012 (in millions):


	Mar. 29, 2013		Jun. 29, 2012
Current liabilities	$	1	$	3
Non-current liabilities		92		116

Net amount recognized	$	93	$	119

The net periodic benefit cost of the Company’s pension plans was not material to the condensed consolidated financial statements for the three and nine months ended March 29, 2013. The Company’s expected employer contribution for its Japanese defined benefit pension plans is $12 million in fiscal 2013.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

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